More Boom-and-Bust Seen in Dubai’s Cash-Driven Recovery - Bloomberg:
"After five years living in Dubai, Akanksha Goel and her husband decided to buy a property instead of paying $68,000 a year to rent their three-bedroom house.
It never happened. Though Goel, the owner of a small advertising agency, and her cameraman husband, were prepared to pay 50 percent upfront, the couple was classified as “high-risk” because she’s self-employed. They were offered a mortgage for 30 percent of the home’s value at double the rate given to buyers with the best credit.
“We decided to bypass the hassle of buying here and we’ll just look into investing somewhere else,” Goel, 27, said in a phone interview. Goel, who is from India, and her Australian husband are looking in Sydney and London, she said."
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